Question:

How does NEAR stock up to other L1s in terms of speed and performance? How fast is NEAR, and compare it with other blockchain speeds in terms of transactions per minute and percentage of transactions that fail.

Overview of essay:

The FLOW and Ethereum blockchains have been selected to compare the behavior of NEAR with them. Three major sections have been adopted to find the performance of NEAR and other L1s.

==These major criteria are status analysis (success and fail), Transaction per minute and count of new users.==

NEAR

• First time users:

  distinct TX_SIGNER as sender, min(block_timestamp) as first_transaction_stamp from flipside_prod_db.mdao_near.transactions

• Transaction per minute:

  date_trunc('minute', block_timestamp) as minute, count(TXN_HASH) as count_txn

• Status analysis:

  substr(tx_receipt[0]:"outcome":"status",3,7) as status

FLOW

• First time users:

  distinct PROPOSER as sender, min(block_timestamp) as first_transaction_stamp from flow.core.fact_transactions

• Transaction per minute:

  date_trunc('minute', block_timestamp) as minute, count(tx_id) as count_txn

• Status analysis:

  TX_SUCCEEDED

Ethereum

• First time users:

  distinct FROM_ADDRESS as sender, min(block_timestamp) as first_transaction_stamp from ethereum.core.fact_transactions

• Transaction per minute:

  date_trunc('minute', block_timestamp) as minute, count(tx_hash) as count_txn

• Status analysis:

  STATUS

Key findings:

This essay has been executed for the past 2 months.

1. The best performance from status analysis point of view belongs to Ethereum blockchain. The Flow and NEAR has similar behavior approximately.
2. The daily status analysis of blockchains reveals the nightmare performance of FLOW on specific days like last week of May, 2022.
3. The most reliable daily status analysis belong to Ethereum and as shown in the chart, the success rate of Ethereum always more than 92%.
4. On transactions per minute analysis, the maximum TPM on each days of the past 2 months has been used.
5. The TPM of NEAR is close to Ethereum. Additionally, the TPM of FLOW are lower than other two.
6. The highest TPM belong to NEAR and the lowest one is related to FLOW.
7. The count of new users on the past 2 months reveals the domination of Ethereum and FLOW.
8. The new users on NEAR is lower than other two as illustrated in the last graph.